Canadian department-store operator Hudson's Bay announced yesterday that it has hired Gerald Storch to be its new CEO, beginning next month.
The Wall Street Journal reports that it will be Storch's job to "keep up the retailer’s momentum and unlock more value in the company’s real estate."
Storch is the former CEO of Toys R Us, as well as former vice chairman of Target. He succeeds Richard Baker, who will stay on as executive chairman
The Wall Street Journal reports that it will be Storch's job to "keep up the retailer’s momentum and unlock more value in the company’s real estate."
Storch is the former CEO of Toys R Us, as well as former vice chairman of Target. He succeeds Richard Baker, who will stay on as executive chairman
- KC's View:
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My recollection is that when Storch was at Toys R Us, the company had uninspiring results. Plus, he used to say things like he thought big box stores would survive e-commerce because eventually people would decide that it was bad for the environment to order things online and have them delivered.
I think he got that one wrong.
My other recollection is that at the time, Storch struck me as someone who should be running Fort Courage, Kansas, not a major 21st century retailer.
I hope that he brings a more enlightened sensibility to Hudson's Bay.
